Most Important Terms and Conditions (MITC)

(Last updated on: 20th April’2023)

To get the complete Credit Card Terms and Conditions, please visit www.icicibank.com .

(a) Schedule of Fees and Charges:

1. (a) Monthly Fees:
ICICI Bank Card variant Monthly fee (in ₹) Supplementary card fee Minimum spends for monthly
(in ₹) fee reversal (in ₹)
ICICI Bank Emeralde 1,000 Nil 1, 00,000*
Credit Card

*If the total spends on the Credit Card were equal to or more than this amount during the previous month, the
Monthly Fee applicable on the Credit Card for the subsequent month shall be reversed.
If the total spends on the Credit Card were less than this amount during the previous month, the Monthly Fee
applicable on the Credit Card for the subsequent month shall not be reversed. Spends through Equated Monthly
Instalment (EMI) transactions on Credit Card are not included in total spends calculation. The month starts from
the date of card creation every subsequent month.

(b) Annual Fees:

Minimum
Annual Fee (2nd Supplementary
ICICI Bank Card Joining Fee (1st Annual Fee Spends for
year Card Fee
Variant year) ₹ (1st year) ₹ Annual fee
onwards) ₹ (Annually) ₹
reversal* ₹
ICICI Bank Emeralde
Credit Card 12,000 Nil 12,000 Nil 15,00,000*

*If total spends on the Credit Card is equal to or more than this amount during an anniversary year, the
Annual Fee applicable on the Credit Card for the subsequent year shall be reversed. If total spends on the
Credit Card is less than this amount during an anniversary year, the Annual Fee applicable on the Credit Card
for the subsequent year shall not be reversed. Spends through EMI transactions on Credit Card are not included
in total spends calculation.
The year starts from the date of card creation every subsequent year.

2. Finance charges:
ICICI Bank Card Overdue interest on extended credit
Variant Interest on cash advances
Monthly rate Annual rate Monthly rate Annual rate

ICICI Bank Emeralde

Credit Card 3.4% 40.80% 1.99% 23.88 %

3. Other fees and charges:

Duplicate statement ₹100
request (beyond 3 months)
Card replacement fee
₹100
Cheque/ Cash pick-up fee ₹ 100 per pick-up
Cash advance – transaction fee Withdrawal fee is Nil; 1.99% per annum on advance amount,
subject to a minimum of ₹300.
On Easy Deposit Card: Nil for cash withdrawals at ICICI Bank
ATMs
On Cash Card: ₹ 151 per transaction.
Redemption handling fee A Redemption handling fee, plus Goods and Services Tax (GST)
will be charged towards handling and delivery on every
redemption request for Reward Points earned on ICICI Bank
Credit Cards.

Redemption category Redemption handling fee

Catalogue-based redemptions ₹ 99
Online and in-store ₹ 25

redemptions at Online Partner Brands

Dial-a-draft-transaction fee 3% of the draft value amount, subject to a minimum fee of ₹300

Late payment charges Nil

Over-limit charges Nil
Return of cheque 2% of Total Amount Due (minimum ₹450)#
Auto Debit return fee 2% of Total Amount Due (minimum ₹450)#
Fee on cash payment at branches ₹ 100 per payment transaction
Outstation cheque processing fee 1% of the cheque value, subject to a minimum of ₹100

Charge slip request ₹ 100 per charge slip

Foreign currency transactions* Mark-up of 1.5%
Railway booking surcharge 1.80% of transaction value for online transactions and 2.5% for
other bookings. Cost of railway tickets will be recovered along
with charges and taxes levied, if any, by the acquiring bank at
Actual. For cards on the American Express network 1.80% of
transaction value or ₹10, whichever is higher.
Fuel surcharge 1% of transaction value or ₹ 10, whichever is higher. Surcharge
waiver of 1% of transaction value on HPCL petrol pumps on
select cards (this offer is valid on a maximum transaction of
₹4,000, when the payment is made by swiping the card on ICICI
Merchant Services swipe machines).
Surcharge waiver of 1% of transaction value at all petrol
pumps. Cost of fuel will be recovered, along with charges and
taxes levied, if any, by the acquiring bank at actual. On fuel
purchase at Offus terminals and non-HPCL outlets, the
surcharge reversal will not include GST.
GST Effective July 01, 2017, GST will be applicable instead of Service
Tax. GST rate may vary from time to time. Presently, the GST
rate for banking and financial services is at 18% (applicable on
all fees, interests, surcharges and other charges).

*Card Validation charges – Lounges within India

A nominal amount of Rs.2 will be charged on the credit card and the same shall not be reversed by the bank
(All card variants)

*Charges in foreign currency: If a transaction is done in a currency other than INR, that transaction will be
converted into INR. The conversion will take place on the date the transaction is settled with ICICI Bank,
which may not be the same date on which the transaction was done. If the transaction is not in USD, the
conversion will be made through USD, by converting the charged amount into USD and then by converting
the USD amount into INR.

Unless a specific rate is required by applicable law, the conversion rate from USD to INR will be at the rates
provided by Visa, MasterCard or American Express, as the case may be, on the settlement date, increased
by a Currency Conversion Factor assessment on such transactions.
#
In addition, ₹50 plus GST will be debited from the customer’s Savings Account.
4. Interest charges:
1) Interest will be charged if the Total Amount Due is not paid by the payment due date. Interest will be
charged on the Total Amount Due and on all new transactions (from the transaction date) until such time
as the previous outstanding amounts are paid in full. In addition, interest will be levied on all cash advances
from the date of the transaction until the date of payment.
2) The rate of interest may be changed at the sole discretion of ICICI Bank. It can be as low as 1.25% per
month (15% per annum), depending on factors such as — but not limited to — credit history, purchase
patterns, payment behavior, loyalty and Month on Book.
3) In case of default, interest charges may increase up to a maximum of 3.50% per month (42% per annum).

The following illustration will indicate the method of calculating interest charges:
In the table given below, it has been assumed that the Total Amount Due of the previous month’s statement
has been paid by the payment due date and there is no outstanding amount. The statement date is the 15 th
of every month. Given these assumptions, the interest will be calculated as given below:

Transaction ₹
Purchase on April 10, 2009 2,000
Total Amount Due on statement dated April 15, 2009 2,000
Minimum Amount Due on statement dated April 15, 2009 100
Payment due date: May 3, 2009
Purchase on May 7, 2009 800
Payment on May 10, 2009 1500
On statement dated May 15, 2009 the following interest charges will be levied:
Interest calculations at 40.80% per annum for Gold Card
a) Interest on ₹ 2000 for 30 days (from April 10 to May 9) 67.07
b) Interest on ₹ 500 for 6 days (from May 10 to May 15) 3.35
c) Interest on ₹ 800 for 9 days (from May 7 to May 15 ) 8.05
Total interest charged in the statement dated May 15 78.47

GST will be applicable on interest charges.

5. Late Payment Charges (LPC): LPC on ICICI Bank Emeralde Credit Card will be nil.

6. Interest-free (grace) period:

The interest-free (grace) period could range from 18 to 48 days.
Illustrative example for the calculation of interest-free (grace) period: For a statement for the period from
April 15, 2009 to May 15, 2009 the payment due date would be June 2, 2009. Assuming that you have paid
your Total Amount Due of the previous month’s statement by the payment due date, the interest-free (grace)
period would be:
1) For a purchase dated April 24, 2009, the interest-free (grace) period is from April 24 to June 2, i.e., 40
days.
2) For a purchase dated May 14, 2009, the interest-free (grace) period is from May 14 to June 2, i.e., 20
days.

Thus, the interest-free (grace) period can vary depending upon the date of purchase. However, if the Total
Amount Due is not paid by the payment due date, there will be no interest-free (grace) period.

For cash advances, interest is charged from the date of the transaction until the date of payment.

(b) Withdrawal Limits: The Credit Limit and Cash Withdrawal Limit are communicated at the time of delivery
of the Card and are indicated in the monthly statements. The available Credit Limit is calculated by
deducting the utilized limit from the Total Credit Limit. In case the Card Member has availed of any loan
within the credit limit on the card, the outstanding loan amount will also be deducted from the Total Credit
Limit to arrive at the Available Credit limit.
 Cash limit will be a sub-set of Credit Limit and will be nil for the first one hundred and eighty (180) days
from the date of issuance of the Card, on select Cards, as may be specified by ICICIBank. After the expiry of
the first 180-day period from the date of issuance of the Card, ICICI Bank will make the cash limit available
to the Card Member at its sole discretion and on such terms as may be communicated by ICICI Bank from
time to time.

The Card Member shall be entitled to apply for a review/ enhancement/ reduction of the Credit Limit and/or
cash limit provided by ICICI Bank, upon completion of 12 months of his/her membership. Alterations upon
such review, if any, of the Credit Limit and/or cash limit will be at the sole discretion of ICICI Bank. ICICI Bank
shall, at its sole discretion, be entitled to review (including enhancement or reduction) the Credit Limit and/or
the cash limit assigned on the Card at any time and only enhancements, if any, to the Credit Limit and/or
the cash limit, shall be effected by ICICI Bank along with the consent of the Card Member.

(c) Billing:
1. Billing statements – periodicity and mode of sending: All Card Members will be billed on a monthly basis for
all charges incurred by the use of the Card and for all charges applicable to the card account. However,
there may be no statement generated for the period in which there has been no outstanding due and no
transaction on the account in the past month. The billing statement will be dispatched on a monthly basis
to customers at the mailing address as per our records by post and/or by e-mail.

2. Minimum Amount Payable: Without prejudice to the liability of the Card Member to immediately pay all
charges incurred, the Card Member may exercise the option to pay only the Minimum Amount Due (MAD)
indicated in the statement by the due date.
The MAD shall be 5% of the outstanding amount, or such other amount, as may be determined by ICICI Bank
at its sole discretion. In case of any repayment through instalments, the instalment amount due during the
statement period will be added to the MAD. If the total outstanding is more than the credit or cash limit,
then the amount by which the credit or cash limit has been exceeded will also be included in the MAD. The
MAD shall also include unpaid MAD of the previous statements, if any. Interest will be charged if the Total
Amount Due is not paid by the payment due date even if the MAD has been paid.

If the customer has registered for Auto Debit facility towards Credit Card repayment and has selected the
Minimum Amount Due option, then the same will be executed on the due date provided the customer pays
no amount before the due date. If the customer has paid an amount less than the MAD before the due date,
then the differential amount would be debited.If the customer has paid an amount, which is equal to or
more than the MAD before the due date, then no additional amount will be debited from his/her liability
account.

If you spend ₹ 5000 and pay back exactly the MAD (subject to a minimum payment of ₹100) every month, it
will take you up to 6 years and 6 months to pay back the total amount. We therefore suggest that whenever
your cash flows allow, pay back an amount substantially more than your MAD.

No merchant refund/cashback/credit due to transactions converted to EMI/ cancelled transactions/ reversals/

promotional cashback will be considered as payment towards the outstanding of the card.

In case the Card Member makes an excess payment compared to the outstanding of the card, there will be
credit balance in the card account. This will be adjusted against the subsequent transactions done on the
card. However, no interest can be claimed on this excess credit amount.

3. Method of payment: Payments towards the card account may be made in any of the following ways:
Cash: The Card Member may deposit cash at any of the branches of ICICI Bank towards the card payment.
Such payments at branches would attract a fee of ₹ 100 per payment transaction.
Cheque/ Demand Draft: Make a cheque or Demand Draft favouring ICICI Bank Credit Card XXXX XXXX XXXX
XXXX, and drop it in the collection box at any ICICI Bank branch/ Skypak drop boxes/ ATM locations where
drop boxes are available. If the customer has made the payment towards the Credit Card dues by cheque,
then Credit Limit equal to the cheque amount will be released only post realization of the cheque.
 Internet Banking: If the Card Member holds a Savings Account with ICICI Bank, s/he may pay online through
ICICI Bank Internet Banking. Just log on to www.icicibank.com.

Auto Debit: If the Card Member holds a Savings Account with ICICI Bank, s/he may pay directly through the
Savings Account by giving an instruction in writing to debit the payment from such account every month on
the payment due date. In case the payment due date falls on a Sunday, the amount would be debited from
such account on the next day.

Click to Pay/ National Electronic Funds Transfer (NEFT): Pay your ICICI Bank Credit Card dues from any of
your other bank Savings Accounts using Click To Pay/NEFT.

4. Billing disputes resolution: In the event the Card Member disagrees with the charges indicated in the
statement, it should be communicated in writing to the correspondence address of ICICI Bank within 60
(sixty) days of receipt of the statement, failing which it would be construed that all charges indicated in the
statement are in order.

5. Contact particulars of ICICI Bank Customer Care: The Card Member may call ICICI Bank on any of the
following Customer Care numbers and/or on such other Customer Care numbers as may be notified by ICICI
Bank from time to time.

Customer Care Number: 1860 120 3399 / 1860 120 7777

6. Grievances redressal/Complaints/Escalations: In the event that you are not satisfied with our services, you
may register your grievance(s) by (i) visiting the “Complaint Form” at www.icicibank.com or (ii) calling our
Customer Care or (iii) writing to Mr. Vinayak More, Nodal Officer, ICICI Bank Limited, ICICI Phone
Banking Center, ICICI Bank Tower, 7th floor, Survey number: 115/27, Plot number 12, Nanakramguda,
Serilingampally, Hyderabad – 500032, India. In all your communications with us, please indicate your
complete Credit Card number.

7. Complete postal address of the Bank: ICICI Bank Limited, ICICI Phone Banking Center, ICICI Bank Tower, 7th
floor, Survey number: 115/27, Plot number 12, Nanakramguda, Serilingampally, Hyderabad – 500032,
India.

Toll-free number for grievance redressal: In the event you are not satisfied with our services, you may register
your grievance by calling our toll-free number 1860 120 3399 between 9:00
a.m. and 6:00 p.m. from Monday to Friday. Press 1 and then enter the Service Request number (numeric
digits only) which should not be more than two months old.

d) Default and Circumstances:

i) If the Card Member fails to pay the Minimum Amount Due by the date indicated in the billing statement,
it shall be treated as a default. In case of default, the Bank can forward the default report to the Credit
Information Bureaus or to such other agencies as approved by law. The time period between the payment
due date and the billing date indicated on the billing statement is considered as the notice period for
reporting a Card Member as a defaulter. Terms and Conditions governing Credit Card Facilities shall be
applicable to Supplementary Card Holders as well.

ii) Procedure for withdrawal of default report and the period within which the default report would be
withdrawn after settlement of dues:
The Bank submits the Card Member’s data to TransUnion CIBIL Limited (formerly, Credit Information Bureau
(India) Limited) every month in the format prescribed by CIBIL. This data includes the repayment status of
all Card Holders, both defaulters and current, for the previous month. CIBIL uploads the submitted data onto
their server in another thirty days.
 iii) Recovery of dues in case of death/permanent in capacitance of the Card Member: It shall be in
accordance with the applicable laws after giving sufficient notice for payment of dues and all information
regarding the outstanding dues, to the successors/nominees /legal heirs of the Card Member.

iv) ICICI Bank offers free insurance cover on certain cards through a tie up with ICICI Lombard General
Insurance Company Limited or any other Insurance Company as may be decided by ICICI Bank from time to
time. For insurance details, Card Holders are advised to go through the brochure in the Welcome Kit or refer
to www.icicibank.com.

(e) Termination/Revocation/Surrender of Card membership:

The Card Member may at any time choose to terminate the Card Account with or without giving any prior
notice. For avoiding misuse, it is advised to cut the Credit Card into four pieces ensuring that the hologram
and magnetic stripe are destroyed permanently. The Card Member may terminate the Card membership at
any time by writing to “ICICI Bank Limited, ICICI Phone Banking Center, ICICI Bank Tower, 7th floor, Survey
number: 115/27, Plot number 12, Nanakramguda, Serilingampally, Hyderabad – 500032, India” by indicating
the complete Card number. The termination shall only be effective once ICICI Bank receives the payment of
all amounts due and outstanding in respect of the said Card Account.

In the event of a Credit Card programme closure or at the time of renewal of Credit Card, ICICIBank Limited,
at its sole discretion, reserves the right to provide a card type that is different from the existing card type
held by the Card Member. The Credit Limits and cash limits on any Credit Card, at any point in time, are as
per the sole discretion of ICICI Bank Limited.

The card application shall continue to be valid for any replacement card provided at the time of
closure/renewal.

(f) Loss/Theft/Misuse of Card:

In case of loss/theft/misuse of the Card, it must be reported immediately to ICICI Bank through either
Customer Care or simply SMS <CCBLK> <last four digits of your card> to <5676766> from your registered
mobile number only. The Bank shall thereupon suspend the Card. The Card Member is advised to file a First
Information Report (FIR) with the local police station so that s/he can produce its copy whenever requested
by the Bank. The Card Member shall be primarily responsible for the security of the Card including theft and
for the transactions using the Card. The Card Member shall not be liable for any transaction(s) made on the
Card post reporting its loss/theft/damage. However, in case of any dispute relating to the time of reporting
such loss/ theft/damage and/or transaction(s) done using the Card post reporting of the loss/theft/damage/
misuse, the Bank reserves the right to ascertain such time and or the authenticity of the disputed
transactions.

ICICI Bank reserves the right to block the Credit Card on suspected risk of compromise in order to protect
the interest of the Card Member and to avoid misuse in any manner of the Card Account. The Card Member
shall not be able to use the blocked Card for any transaction(s) and shall receive a replacement Card within
7 (seven) working days. In the event the Card Member, after being informed by ICICI Bank of the probable
fraud risk, still requests to unblock the Card, ICICI Bank shall not stand liable or responsible in any manner
for any fraudulent transaction(s) reported to it thereafter on account of fraudulent usage of the Card or
otherwise.

(e) Disclosure:
The Bank shall part with all available information about the Card Member, repayment history, etc. to Credit
Information Bureaus or to such other agencies approved by law. ICICI Bank/Group Companies reserve the
right to retain the application forms and documents provided therewith, including photographs, and will not
return the same.

Disclaimer:
ICICI Bank may, at its sole discretion, utilize the services of external service provider(s) or agent(s) and on
such terms as required or necessary, in relation to its products.